Western European News Digest

Economist Again Fantasizes of Dominating Post-U.S. World

The British Fabian Society's Economist ran a fantasy projection of the world in 50 years, exposing its very real intention to destroy the U.S. and the world. On the occasion of the 50th anniversary of the European Union, founded in 1957, the Economist wrote on "how it might be in 50 years":

"The EU is celebrating its 100th birthday with a quiet satisfaction. Predictions when it turned 50 that it was doomed to irrelevance in a world dominated by America, China, and India proved wide of the mark. A turning point was the bursting of America's housing bubble and the collapse of the dollar early in the presidency of Barack Obama in 2010."

After praising the "reforms" in Germany and France under Chancellor Merkel and President Sarkozy, the article praises the leadership of Prime Minister David Miliband. The only dark spot in the five-decade stretch was Putin's threat to invade Ukraine, but, luckily, "the EU pushed the Obama Administration to threaten massive nuclear retaliation," and not only was Putin stopped, but the czar was restored[!] and Russia now "has an impeccable democratic government."

Pan-Europeanist Meeting Parallels EU Anniversary

The Pan European Union, an oligarchical operation against the nation-state, held its semi-annual meeting March 25 at Kloster Andechs (a cloister famous for its beer) in Bavaria—which just happened to coincide with the Berlin meeting celebrating the European Union's 50th anniversary. The PEU meeting was featured on German TV news in the context of the Berlin meeting.

The theme of the Pan European Union meeting was "the Christian roots of Europe" going back to Roman times. Its current president (Otto von Habsburg retired) is the French lawyer Alain Terrenoire; the German PEU is led by Member of the European Parliament (MEP) Bernd Posselt, long associated with Otto von Habsburg, and also Bavarian head of the "Union der Vertriebene und Aussielder"—an organization of displaced persons (mostly from Central and Eastern Europe).

Bank of England To Defend City's Leading Position

Sir John Gieve, the Bank of England's deputy governor for financial stability, recently praised London's rapid growth as a world financial center, which is worrying New York, Frankfurt, and Paris. According to the establishment mouthpiece the Financial Times of London, Gieve foresees the UK becoming "an even more important cluster for financial activity" in the future. Financial services today account for 12% of the UK's GDP, as compared to 14% for manufacturing.

However, Sir John warns of complacency and the dangers of "operational disruptions" to the City's present course. "Any widespread disruption or fear about security ... could be very damaging". This is one reason that the "tripartite authorities [the Bank of England, the Financial Services Authority, the regulator, and the Treasury] are spending so much time on improving crisis response and management," he is quoted as saying.

Gieve was a civil servant at the UK Home Office before moving to this special post at the Bank in the beginning of 2006.

European Social Democrats Take Aim at Private Equity Funds

Poul Nyrup Rasmussen, head of European Social Democrats, attacked capital funds and the EU Commission in a report prepared by a group of experts which he presented March 28. The 217-page report states that action is needed on a national and European level to stop the looting by private equity funds. The funds loot companies of assets, fire employees, and make no investments in research and development, the report asserts. "We have to conclude that we are in trouble. The funds do not help companies to develop. We do not have a financial market that can provide the necessary long-term investments in our society. Therefore, we are proposing a series of regulations," Nyrup stated. The report provides case-studies of 21 European companies that have been taken over by private equity funds.

Nyrup attacked Charles McGreevy, EU Commissioner for the EU Internal Market, for not taking action against the funds. "I think Commissioner McCreevy is the last man in the world to say nothing is wrong. Everybody else is worried," he said. Nyrup will send the report to the EU Commissioner in the hope that "some of his employees will read it for him." Among other things, the report suggests that the European Commission present a directive demanding more openness from the funds, so that regulations can be uniform throughout Europe.

Another Prominent German Calls for Locust Fund Regulation

On its commentary page March 26, the German edition of the Financial Times of London published an article by Lucas Zeise, who called for efficient action to control the systemic risks posed by hedge funds. The best way, he wrote, is a regulation posing restrictions on credits to such funds, modelled on similar regulations for credits in other sectors of the economy. Zeise added, however, that he believes regulation will come only after another big fund crisis, because the U.S. and British funds still have the backing of their countries' establishments, and not only do the private banks earn money through the funds, but many have turned into locust funds themselves.

Hungarian President Blasts EU Commission Energy Policies

Remarks by Czech President Vaclav Klaus over the past week have indicated that the kind of European Union supranationalism which the EU Commission (and its current head, German Chancellor Angela Merkel) are promoting, is growing increasingly unpopular in Eastern Europe. On March 23, Hungary's Prime Minister Ferenc Gyurcsany, on a visit to Moscow, voiced his anger at the EU Commission energy policy, and announced his intent to secure Russian gas supplies for Hungary through a new branching pipeline, built with the Russians, from the undersea Russian-Turkish Blue Stream pipeline in the Black Sea.

This has angered the EU bureaucrats in Brussels, who are promoting the "Nabucco" pipeline project from the Caspian to the Mediterranean, bypassing Russia. Budapest has repeatedly voiced its doubt that Nabucco would be ready by 2012, because of the EU's many, and typical, typical delays. "What we need to heat our homes is real gas, not dreams on paper," Gyurcsany said in Moscow.

France Indicts Mitterrand's Son, Networks for Arms Dealing

French prosecutors have indicted 42 individuals, including the son of the late French President François Mitterrand, Jean-Christophe Mitterrand, and former Cabinet Minister Charles Pasqua, for illegal arms trafficking and other corruption charges. Culminating a seven-year investigation, prosecutors said that arms traders Pierre Falcone and Russian-Israeli billionaire Arcadi Gaydamak had bought their way into setting up a network of political contacts to favor their activities in Angola from 1993 to 2000, selling heavy weaponry to the Angolan government for a total of nearly $791 million. Mitterrand, Jr. served from 1986-1992 as counselor on African affairs under his father; Pasqua is a conservative former French Interior Minister. Pasqua, and Jacques Attali—an advisor to Mitterrand—are suspected of accepting large sums of money to facilitate deals. Both Gaydamak and Falcone are still considered very close to the Angolan government, and Falcone has been appointed Angola's ambassador to UNESCO.

Synarchist Financiers Behind Green/Gore Moves in France

The Greenpeace organization in France has launched a campaign, "Solar Generation," with the aim of brainwashing the population on the fraudulent issue of global warming and man-made carbon dioxide emissions. The entire campaign is funded by a "fondation ensemble" nominally run by the Pierre & Vacances entertainment and leisure chain. The chain is chaired by Gerard Bremond, Deputy CEO at Vivendi, along with Claude Bebear, CEO of AXA. At the foundation one also finds Gerard Worms of Banque de Rothschild, a descendant of the synarchist banking family at Banque Worms that promoted the takeover of France by the Petainists and Nazis before and during World War II.